Coca-Cola‘s quarterly earnings and revenue beat analysts’ expectations reporting higher volume sales than in pre-pandemic 2019.
The beverage giant ended 2021 with higher volume sales than in pre-pandemic 2019, At the end of 2021, its global volume sales were up 9 per cent in the final quarter and 8 per cent for the full year.
Its net revenues surged 10 per cent in the quarter to $9.5 billion and by 17 per cent to $38.7billion for the full year.
“This performance was driven by ongoing, asynchronous recovery in many markets and the company’s ability to better adapt to successive waves of the pandemic,” CEO James Quincey said.
“In 2021 our system demonstrated resilience and flexibility by successfully navigating through another year of uncertainty,” said Quincey.
“We focused on our key strategies and emerged stronger. We are confident that progress on our strategic transformation has made us a nimbler total beverage company. While the environment remains dynamic, we will build on the momentum from 2021 to drive top line growth and maximise returns.”
Quincey also disclosed that their marketing and innovation model launched in November 2021 was yielding results.
“This model is about the seamless integration of the power of big, bold ideas and creativity within experiences, amplified by media and data,” global chief marketing officer Manolo Arroyo had said then.
Thursday, Group chairman and CEO James Quincey said, “Our network marketing model, with global category teams and local operating units, is allowing us to focus on end-to-end consumer experiences that are data-driven and always on.”
“Our announcement of WPP as our global marketing network partner is a foundational component of our new marketing model. This new agency approach gives us access to the best creative minds regardless of source and is underpinned by leading edge data and technology capabilities.”
The company’s outlook for the year is projecting organic revenue growth of 7 per cent to 8 per cent for the full year.
Telegram. Click here to join our channel and stay updated with the latest East African business news and updates.
